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Share-Based Compensation | 3 Months Ended
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Mar. 23, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Share-Based Compensation The following table summarizes our total share-based compensation expense, which is primarily recorded in selling, general and administrative expenses:
|  |  | 12 Weeks Ended
|  |  |  |  | 3/23/2024 |  | 3/25/2023
Share-based compensation expense – equity awards |  |  |  |  | $ | 97 |  |  | $ | 93 |
Share-based compensation expense – liability awards |  |  |  |  | 5 |  |  | 6 |
Restructuring charges |  |  |  |  | (5) |  |  | 1 |
Total |  |  |  |  | $ | 97 |  |  | $ | 100 |
The following table summarizes share-based awards granted under the terms of the PepsiCo, Inc. Long-Term Incentive Plan:
| 12 Weeks Ended
| 3/23/2024 |  | 3/25/2023
| Granted(a) |  | Weighted-Average Grant Price |  | Granted(a) |  | Weighted-Average Grant Price
Stock options | 1.8 |  |  | $ | 164.25 |  |  | 2.0 |  |  | $ | 171.00 |
RSUs and PSUs | 2.3 |  |  | $ | 164.25 |  |  | 2.1 |  |  | $ | 171.00 |
(a)In millions. All grant activity is disclosed at target. We granted long-term cash awards to certain executive officers and other senior executives with an aggregate target value of $19 million for both the 12 weeks ended March 23, 2024 and March 25, 2023. Our weighted-average Black-Scholes fair value assumptions are as follows:
| 12 Weeks Ended
| 3/23/2024 |  | 3/25/2023
Expected life | 7 years |  | 7 years
Risk-free interest rate | 4.2 | % |  | 4.2 | %
Expected volatility | 16 | % |  | 16 | %
Expected dividend yield | 2.9 | % |  | 2.7 | %

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